Technical analysis by OM-MADY-stockmarketclasses about Symbol ETC: Buy recommendation (11/28/2023)

Hi everyone, it's time to talk about ETC. For more than a year the asset has been in a large accumulation zone and the stopping factor for the price growth was the 200 day EMA and the descending trendline, which is one of the facets of a symmetrical triangle/descending triangle.The price recently managed to consolidate above the EMA-200 but further growth was stopped by the downtrend line.The price range is now maximally narrowed and on the background of the changed general market trend I expect a breakdown of the downtrend line and further movement to the important Fibo level of 0.236.I plan to open positions also from 0.236 Fibo level.Targets on the chart: 0.382 Fibo (+45%) 0.5 Fibo (+99%) and 0.618 Fibo (+173%).Additionally on the chart I marked the price resistance/support levels with blue lines.In the long term, we can expect an ATH update on the chart.Also, if you have extra funds, you can place buy orders around $14-$16 This is not financial advice, everything you do you do at your own risk!